Nov 4 (Reuters) - Real estate services firm CBRE Group

Inc ( CBRE ) said on Tuesday it has acquired infrastructure

maintenance firm Pearce Services from New Mountain Capital for

about $1.2 billion in cash, with a potential earn-out of up to

$115 million.

The deal boosts CBRE's ( CBRE ) technical services portfolio as

infrastructure demand rises across telecom, energy and electric

vehicle charging spaces.

Pearce will become part of CBRE's ( CBRE ) Building Operations &

Experience unit and is expected to immediately boost CBRE's ( CBRE ) core

earnings.

"This acquisition complements our large and growing presence

in digital and power infrastructure," said Bob Sulentic, CBRE's ( CBRE )

chief executive officer. "It also opens sizable new growth

avenues for CBRE ( CBRE ) in markets where the need for Pearce's services

is growing rapidly."

Pearce provides design engineering, maintenance, and repair

services for critical infrastructure spanning power, telecom,

renewable energy, and data centers.

CBRE ( CBRE ) expects the Pearce deal to help generate over $350

million in core EBITDA from its digital and power infrastructure

services by 2026, excluding gains from potential data center

land sales.

J.P. Morgan and Wells Fargo are acting as financial advisers

to CBRE ( CBRE ), with Sullivan & Cromwell as legal counsel. Ropes & Gray

is advising Pearce and New Mountain Capital.